01 August 2013 18:15 [Source: ICIS news]
LONDON (ICIS)--The European August acetone methyl methacrylate (MMA) contract price has increase by €38/tonne ($51/tonne) on the back of an increase in the feedstock propylene contract price, sources confirmed on Thursday.
The August acetone MMA contract price settled at €908/tonne FD (free delivered) NWE (northwest Europe).
In relation to the settlement, a producer said: “Prices should not be less than the propylene increase. Demand in Europe is picking up, and product is really, really tight.”
A major consumer said it did not see the market as tight as producers.
Acetone producers had been seeking an increase of €50/tonne from July to August, based on tight supply as well as high feed costs, while buyers would have preferred an increase €25/tonne.
($1 = €0.75)
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